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4. (From Final 2015) Suppose that X =wage income, and U-nonwage income, and suppose 5, Var(X) 185, Var(U) that (X, U) are biv
(b) What EY? State the joint distribution of (X, Y)
4. (From Final 2015) Suppose that X =wage income, and U-nonwage income, and suppose 5, Var(X) 185, Var(U) that (X, U) are bivariate normal with EX)30, E(U) 35, and Cov(X,U)= 15. Suppose total income is in thousands of dollars. Y X +U. All variables are measured
(b) What EY? State the joint distribution of (X, Y)
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gven infmation we urtionrom the have 11χ : 30, .lu : 5, X 2. 18 5 , D z.. 35 l085 -5+30.5 c 165 Nou -1085 165 nce are bivaiabCov(X 200 let we find the Conve lation Co-efficient DV ry ( J185-350 0.73 1 (93)) ,250 33. 77S

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